**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**
“You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something–your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.” –Steve Jobs
We began the week with a nice gap higher to open, but there was no follow-through, just chop.
There was absolutely no trend today until the last hour when stocks began to show weakness, and I’m happy about that.
I remain short and it’s looking good for myself and members.
I remain short ALXN CMG FB NFLX PCLN & TSLA.
A break under 204 may see me grab a short position, but honestly, I’m happy with the shorts I’ve got on for now so I’m not so sure.
All in all, stocks are acting weak and I’m short, trying to take advantage of it.
Have a great night.